Construction has begun on the Oxxford which is located at 1220 W. Van Buren Street in Chicago per RE Journals. The Missner Group will redevelop the building that is there now into a nine story, 140,000 square foot Class A loft office/commercial building in the West Loop location.
The current building is a seven story, 115,000 square foot office, showroom and manufacturing building. Missner Groups plans call for open floor plans with concrete and brick features including the following tenant conveniences:
- Tenant lounge with rooftop deck
- Fitness center with locker rooms and a lounge
- Multiple Wi-Fi gathering locations
- Conference center
- Bike parking facilities
The Missner Group's prime goal is to keep the character and consideration for the history of the building.
"The Oxxford is located at the corner of Van Buren and Racine, within Chicago's West Loop's recent retail, office and residential boom. The neighborhood's resurgence has made it one of Chicago's ideal places to live, work and play. The building offers excellent access to public transportation, the Eisenhower Expressway and a myriad of dining and nightlife options. It also lies within an area of increasing residential density and diverse demography, making it an ideal opportunity for the commercial and office markets."
President of The Missner Group | Glen Missner
The Oxxford is a very unique, vintage building that has a lot of charm including 14 to 16 foot ceiling heights, open floor plans and skyline views.
Jack McKinney, Jr. of Cushman and Wakefield will be in charge of leasing the property and the architectural firm will be Wright Heerema Architects. Completion of the project is expected to be the middle of 2019.
According to Commercial Property Executive, it has been one year since the Missner Group bought the former showroom of Oxxford Clothing. The property is near the Racine 'L' Stop, the University of Illinois Circle Campus and Rush University Hospital. Missner is also working on another building and broke ground in August on the industrial building in Aurora, Illinois. Bidding on private projects requires the right tools.
Per BisNow, office buildings in the West Loop market are in extreme demand right now. In September, New York based JK Equities bought 1400 West Monroe Avenue which is a four story skilled nursing facility in the West Loop and paid $6 million.
New infrastructure is also in demand in this area. The city of Chicago has released plans for the future Damen Avenue Green Line 'L' Station. The station is set to open in 2020, 72 years after the Chicago Transit Authority closed and demolished the original station.
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DataBid is currently reporting on this project - West Van Buren Building Renovation - Chicago (0036092016)